The Bahamas Financial Services Board (BFSB) has hosted a half-day Insurance Industry briefing, in collaboration with the Insurance Commission, the Ministry of Financial Services and the Insurance Institute of the Bahamas.
Peter J. Strauss, managing member of the South Carolina-based Strauss Law firm, spoke on the operations of a captive insurance company – critical roles, claims and underwriting management.
He also spoke to the Bahamas’ improvement to 23rd in the world in terms of registered captives domiciled in this jurisdiction.
Michele Fields, the Insurance Commission’s superintendent, gave a regulatory update on the external insurance sector, and the ongoing risk-based supervision (proportional) regulatory regime undertaken by the Commission.
Guillaume Bouffard and Paul Cooper, co-founders of Premium Life Insurance, addressed BFSB members and guests on the ‘Fertile Life Insurance Environment for High Net Worth Individuals (HNWIs)’, and how this product can become an essential part of the Bahamas’ wealth management toolkit.
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